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Dr. Mart moved and waw delighted to find a house for sale that they loved, where...

Dr. Mart moved and waw delighted to find a house for sale that they loved, where He would have to borrow $500,000. He need to decide between a 15-year or 30-year loan. Note that a 15-year loan is at 2.25% per year interest rate compounded monthly, and a 30-year loan is at 3.12% per year interest rate compounded monthly.

Find the savings per month by going to the 30-year loan.

Find the total savings by going to the 15-year loan.

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